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Message
Reporting Crypto Gains/Losses to IRS
Posted on 1/2/22 at 2:48 pm
Posted on 1/2/22 at 2:48 pm
Tax season will be approaching soon. I downloaded all of my crypto transactions into an Excel spreadsheet from Coinbase Pro. Are there any tools out there that make it easier to calculate your gains/losses? Any info is appreciated.
Do you use a Form 8949?
Do you use a Form 8949?
4
Posted on 1/2/22 at 2:56 pm to Jason9782003
I use Koinly. Works great. It does all the work for you and generates your tax forms.
LINK
LINK
This post was edited on 1/2/22 at 2:57 pm
Posted on 1/2/22 at 3:02 pm to Jason9782003
I've been using Bitcoin.tax for 5 years now. It compiles everything for you and spits out a gain/loss at the end
Posted on 1/2/22 at 3:38 pm to FnTigers
yes, koinly.io is a great tool and I like the dashboard that will show all holdings.
Posted on 1/2/22 at 3:46 pm to Zilla
Yep, koinly works very well as a wallet management tool. And it's free unless you need a tax report, which is very reasonable for what it does.
Taxes are a bonus.
Taxes are a bonus.
This post was edited on 1/2/22 at 3:47 pm
Posted on 1/2/22 at 4:22 pm to FnTigers
Any of these work with Solana? Or other even smaller blockchains?
Posted on 1/2/22 at 4:31 pm to tenderfoot tigah
Koinly tracks everything I currently own, including Solana and a few smaller coins. I don't get in to a whole lot of defi, so YMMV if that's your thing.
Posted on 1/2/22 at 6:19 pm to FnTigers
Seems risky to give the app access to the account? Does it pull from CB Pro too?
Posted on 1/2/22 at 6:27 pm to Billy Blanks
Exchanges have an api. It can't do anything to your crypto. Defi just reads the blockchain.
Posted on 3/21/23 at 1:42 pm to Jason9782003
never sell never pay taxes
that's the hodl way right?
that's the hodl way right?
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